FY2024 EPS Estimates for Purple Innovation Raised by Wedbush

Purple Innovation, Inc. (NASDAQ:PRPL) – Equities research analysts at Wedbush increased their FY2024 earnings per share estimates for shares of Purple Innovation in a research report issued to clients and investors on Tuesday, November 5th. Wedbush analyst S. Basham now forecasts that the company will earn ($0.47) per share for the year, up from their prior estimate of ($0.49). Wedbush has a “Neutral” rating and a $1.10 price objective on the stock. The consensus estimate for Purple Innovation’s current full-year earnings is ($0.48) per share. Wedbush also issued estimates for Purple Innovation’s Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.22) EPS and FY2026 earnings at ($0.17) EPS.

Separately, Craig Hallum decreased their target price on shares of Purple Innovation from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Purple Innovation has a consensus rating of “Moderate Buy” and an average target price of $2.53.

Purple Innovation Price Performance

NASDAQ PRPL opened at $0.81 on Thursday. The firm’s 50 day moving average is $0.97 and its 200-day moving average is $1.15. The company has a quick ratio of 0.67, a current ratio of 1.43 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $87.48 million, a PE ratio of -0.81 and a beta of 2.08. Purple Innovation has a 12-month low of $0.55 and a 12-month high of $2.33.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $118.60 million during the quarter, compared to the consensus estimate of $125.64 million. Purple Innovation had a negative return on equity of 70.68% and a negative net margin of 21.34%. During the same period last year, the company earned ($0.18) earnings per share.

Institutional Trading of Purple Innovation

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRPL. BNP Paribas Financial Markets grew its position in shares of Purple Innovation by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock valued at $47,000 after acquiring an additional 11,405 shares during the period. Crumly & Associates Inc. raised its stake in Purple Innovation by 22.5% in the third quarter. Crumly & Associates Inc. now owns 81,763 shares of the company’s stock valued at $81,000 after buying an additional 15,000 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Purple Innovation by 42.5% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 58,452 shares of the company’s stock valued at $58,000 after buying an additional 17,425 shares during the period. Vanguard Group Inc. lifted its position in shares of Purple Innovation by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock valued at $5,053,000 after buying an additional 20,189 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Purple Innovation by 51.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,009 shares of the company’s stock worth $105,000 after acquiring an additional 20,400 shares during the period. 88.41% of the stock is owned by institutional investors.

Purple Innovation Company Profile

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.